The present invention relates to data processing by digital computer, and more particularly to monitoring employment compensation.
To hire and retain employees, a company, organization, or enterprise monitors the current compensation rates used by smaller and larger companies along with companies of similar size. By monitoring employee compensation supported by the current marketplace, an employer can plan budgets and determine compensation adjustments for its current employees and set potential salaries for new employees. Also, by monitoring the current compensation levels supported by the market, compensation changes can be proposed to company officials in management positions. Furthermore, by monitoring compensation, a company can track how compensation varies for particular employment positions as a function of geographic location, market sector, or other metric.